NEW YORK (Reuters) - Investors that bought Citigroup Inc (C.N) shares should take profits after the U.S. bank’s shares climbed almost 100 percent in the last month, Barron’s said in its August 31 edition.
Further gains in Citi’s shares are likely to be limited, the newspaper — which was bullish on the bank a month ago — said, adding that other U.S. bank stocks look more attractive.
Citi shares closed on Friday at $5.23.
Shares in Citigroup fell as low as $1 earlier this year after it received $45 billion in bank bailout money from the U.S. Treasury’s Troubled Asset Relief Program and the government now owns a 34 percent stake in the company.
The second-largest U.S. bank, JPMorgan Chase & Co (JPM.N), and former investment bank Morgan Stanley (MS.N) are both in better shape than beleaguered Citi, the newspaper said, noting that both have returned U.S. government bank bailout funds.
Reporting by Elinor Comlay, editing by Leslie Gevirtz